On january 1 2010 gucci brothers inc. started the year with, Ask an Expert

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On January 1, 2010, Gucci Brothers Inc. started the year with a $500,000 credit balance in retained earnings and a $608,000 balance in common stock. During 2010, the company earned net income of $109,000, paid a dividend of $14,200, and issued more common stock for $26,000. What is total stockholders' equity on December 31, 2010?

a) $1,257,200

b) $1,228,800

c) $1,453,800

d) $1,108,000

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